https://www.taxtmi.com/caselaws?id=411737 The Tribunal allowed the appeal, quashing the penalty order under section 271(1)(c) of the Income Tax Act. The penalty was invalidated due to discrepancies between the grounds for penalty initiation and imposition. The Tribunal emphasized the necessity of aligning penalty imposition with the specified grounds in the initiation notice, citing legal precedents to support the decision. The importance of procedural clarity and statutory compliance in penalty proceedings was upheld, leading to the penalty order being set aside. en-us Tue, 31 Aug 2021 00:00:00 +0530 Thu, 02 Sep 2021 08:59:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411737 The Tribunal allowed the appeal, quashing the penalty order under section 271(1)(c) of the Income Tax Act. The penalty was invalidated due to discrepancies between the grounds for penalty initiation and imposition. The Tribunal emphasized the necessity of aligning penalty imposition with the specified grounds in the initiation notice, citing legal precedents to support the decision. The importance of procedural clarity and statutory compliance in penalty proceedings was upheld, leading to the penalty order being set aside. Case-Laws Income Tax Tue, 31 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411737